Major Developments
🔹 MOIL February Update – Manganese ore production at 1.53 lakh tonnes, exploratory core drilling up 43% YoY at 11,455 meters.
🔹 TVS Motor February Sales – Total sales at 4.03 lakh units, exceeding CNBC-TV18 estimate of 3.90 lakh units; 10% YoY growth.
🔹 Eicher Motors (Royal Enfield) Update
- Total RE sales at 90,670 units, surpassing CNBC-TV18 estimate of 87,625 units.
- Sales up 19.4% YoY, exports up 23.2% YoY.
🔹 Tata Motors February Sales – Total sales down 4.6% YoY at 79,344 units, missing CNBC-TV18 estimate of 83,153 units.
🔹 Maruti Suzuki February Sales – Total sales at 1.99 lakh units, up 1% YoY, but below CNBC-TV18 estimate of 2.05 lakh units.
🔹 M&M Auto & Tractor Sales
- Auto sales at 83,702 units, up 14.8% YoY.
- PV sales up 19% YoY.
- Tractor sales at 25,527 units, up 18% YoY.
🔹 Escorts Kubota – Total tractor sales up 11.4% YoY at 8,590 units.
🔹 Ujjivan Small Finance Bank – Completes sale of ₹364.51 crore stressed loan portfolio for ₹34.26 crore.
🔹 India’s GDP Growth – 6.2%, in line with estimates; YoY growth slowed from 8.6%, but QoQ growth improved from 5.4%.
🔹 February GST Collections – Up 9.1% YoY at ₹1.84 lakh crore.
🔹 NLC India Limited – Secures 200 MW Wind Power Project from SJVN at ₹3.74/kWh.
🔹 New SEBI Chief Tuhin Kanta Pandey – Aims to make SEBI “the best market institution”.
🔹 Yes Bank – Members approve appointment of Manish Jain as Director & Executive Director for a 3-year term starting December 11, 2024.
🔹 Voltas – Completes transfer of 92% stake in Saudi Ensas to UMPPL, Singapore, for ₹61.8 crore.
